During an interview for the accounts receivable clerk position, you will likely be asked several questions to assess your abilities and competencies for the role.
Here are 25 accounts receiveable clerk interview questions and answers .that will ensure you’re able to confidently answer any question asked at your next interview.
Accounts Receivable Clerk Interview Questions and Answers
1. Which skills qualify you for this job?
Strong accountancy skills, attention to detail, and customer dealing skills qualify me for this position.
2. Do you have any experience in data entry?
Yes, I have 2 years of experience in data entry, typing speed of 60 wpm, and with minimal error rate. I have been trained in using various accounting-related software.
3. How do you handle an agitated client?
I start by empathizing and then I try to understand their problem. Next, I explain the issue to them in simple and clear language and assure them that their problem will be resolved.
4. What do you do to keep your accounting knowledge updated?
I remain in touch with the latest trends in accounting on social media and also keep attending seminars and workshops to keep my AR knowledge updated.
5. Which accounting software are you familiar with?
I am well versed in Quickbooks, Netsuite, Finvi, and Upflow. I am a tech-savvy individual and remain up-to-date with the latest accounting software and apps.
6. Tell us about your cash handling skills?
I am well practiced in generating accurate bills against products sold or services rendered, receiving the correct amount of cash and producing correct change, processing the transactions, cash till balancing, credit and debit card processing, and facilitating the whole payment process.
7. How often should accounts be reconciled?
Ideally, accounts must be reconciled on daily basis at day end, however in some firms; SOPS are to reconcile accounts on a weekly or even monthly basis according to their sensitivity and flow.
8. What do you do if accounts are not reconciled?
I check the ledger for any data entry errors and once the wrong entry is identified I reverse it to make sure the accounts are balanced. If there is still any discrepancy I immediately report it to the authorities.
9. How do you forecast next month’s payments?
Based on previous payment graphs and reports, upcoming months expected payments can easily be forecasted. Specialized apps for this purpose are also available.
10. What kind of financial reports have you prepared in the past?
I have been preparing billing statements, invoices, account statements, financial statements, reconciliation reports, etc.
11. How would you rate your people skills?
As an experienced AR clerk I have been dealing with customers for more than 3 years and I would say my people skills are very good.
12. What do you do to minimize data entry errors?
I am a detail-oriented, analytical-minded person and I make sure I’m fully alert when entering the data I always crosscheck my entries before finalizing them.
13. How would you rate your numeracy skills?
Math has always been my strong subject and my mental math and oral numeracy skills are excellent.
14. How do you keep yourself focused while performing repetitive tasks?
If I feel boredom, I take a quick break, walk around, drink water, and restart my task with a fresh mind.
15. How do you differentiate between back-end and front-end collections?
The upfront payments that are clear and precise and the customer is informed about are called the front-end collections while the collections that require processing the bills through different channels and informing the clients about the details of payables are the back-end collections.
16. How would you explain the accounts receivable process in easy terms?
An accounts receivable process consists of purchases or services rendered, billing against the same, collection of payable amount, and entry of the same followed by reconciliation. An AR clerk is responsible for overseeing all the billing, verification, and transaction-related process.
17. What are the main challenges generally faced by an accounts receivable clerk?
The main challenges faced by an AR clerk include billing and invoice errors, non-reconciled accounts, counting of outstanding receivables as bad debt, and incorrect allocations of payments.
18. What are the daily tasks of an accounts receivable clerk?
Daily tasks of an AR clerk include bill generation, invoice making, cash receiving, and updating the general ledger while facilitating the customer during the whole transaction process.
19. What are the three main skills that an accounts receivable clerk should have?
Attention to detail, strong numeracy skills, and time management are the three core competencies every AR clerk must have.
20. What do you mean by working capital?
When we subtract the current liabilities from the current assets, we get the working capital. It is basically the real spendable amount that a business has.
21. What happens if cash is received from clients but not entered?
Such cash is sent to the deferred revenue head and it appears as not earned.
22. How can we differentiate between receivable and deferred revenue?
Deferred cash is the cash received, against which services or products have not been provided yet while the receivable cash is the cash due after the services have been delivered.
23. What is Good Will?
When someone buys a business, goodwill is basically a recommended amount that is added to its tangible assets. It’s a value that represents the non-tangible worth of that business.
24. What is the main duty of an accounts receivable clerk?
The main job of an accounts receivable clerk includes billing the clients correctly against their purchase, carrying out the transaction, and keeping accounts of the same.
25. What experience do you have in generating periodic statements?
I am well versed in generating weekly and monthly billing statements for clients and companies as required.
26. What makes you feel that you are a good contender for an accounts receivable clerk position?
I am a detail-oriented and exceptionally organized individual who has had 6 years of accounts receivable experience. Working with numbers comes naturally to me and I am quite eloquent when it comes to making complex calculations. Additionally, I am deeply familiar with bookkeeping procedures and payroll functions, which makes me an excellent choice to work in this position.
27. Why is it so important to be technically savvy in this role?
Every accounting procedure is not computerized. It is important to be technically savvy so that you can keep up with the times. And also because being technically savvy means that you can complete your work in half the time that it will take you to do it manually.
28. What do you classify as day-to-day financial transactions”?
Verifying, classifying, computing, recording, and posting accounts receivable data in pre-designated accounting software is considered day-to-day financial transactions.
29. Do you have a particular strategy that you use to acquire payments from delinquent accounts?
Strategies need to be created according to each individual situation. I handle most situations by following up diligently and sending reminders. If neither works, I begin the paperwork for the authorities’ intervention.